Markets
A grain industry analyst thinks Agriculture Canada has underestimated Canada’s durum supply. Cliff Jamieson, Canadian grains analyst with DTN, wrote an article recently suggesting that the supply and demand numbers don’t add up. Agriculture Canada forecasts 2.35 million tonnes of exports for the 2021-22 crop. Jamieson noted that current licensed exports plus stocks in commercial […] Read more
Markets
War introduces pea market uncertainties
The world’s second largest pea producer is waging a war that could damage its ability to export the product. Russia is forecast to produce 2.63 million tonnes of the pulse crop in 2022, second only to Canada’s 3.49 million tonnes, according to Stat Publishing. That would be a big rebound for both countries after harvesting […] Read more
China’s soybean imports in Jan-Feb beat market expectations
BEIJING, March 7 (Reuters) – China’s soybean imports in the first two months of 2022 rose from the previous year, customs data showed on Monday, beating market expectations. China, the world’s top importer of soybeans, brought in 13.94 million tonnes of the oilseed in the Jan-Feb period, up 4.1 percent from 13.41 million tonnes in […] Read more
Russia’s proposed ban adds fuel to fertilizer price fire
Russia’s trade and industry ministry has recommended that the country’s fertilizer producers temporarily halt exports. That will have big ramifications for all major fertilizers, says an industry analyst. “It takes a world that was already rather tightly supplied and low on inventories and it just makes it that much worse,” said Josh Linville, fertilizer analyst […] Read more
Fate of Ukrainian wheat crop remains uncertain
Ukraine’s Maritime Administration has announced that the country’s ports will remain closed until the Russian invasion is over, putting a halt to old crop exports. That is stranding an estimated five million tonnes of old crop wheat that was destined for export, according to AHDB Cereals and Oilseeds. But what about looking further down the […] Read more
Wheat set to soar as war erupts
Russia’s invasion of Ukraine could drive up global wheat prices from 30 to 100 percent, according to a Rabobank analysis. War is likely to at least temporarily halt Ukraine’s wheat, barley and corn exports, which could cause a 30 percent hike in wheat prices and a 20 percent increase in corn, according to an analysis […] Read more
Chinese food goal questioned
Chinese President Xi Jinping might want to be free of dependency on foreign food imports, but it will likely never be, says a noted China expert. “It will be very hard for him to realize, especially in the agricultural arena, where China has such a small percentage of arable land,” said Elizabeth Economy, a China […] Read more
U.S. ag exports to set record
The U.S. Department of Agriculture forecasts another record year of U.S. agricultural exports in 2022. The country shipped out US$177 billion worth of agricultural commodities in 2021, an 18 percent increase over the previous year. The forecast for 2022 is for a new record of $183.5 billion. “This, ladies and gentlemen, is unprecedented, this is […] Read more
Grain prices to drop but stay higher than average
Global wheat stocks expected to increase by 83 million bushels due to more seeded acres and anticipated average yields
Wheat, soybean and corn prices are expected to drop in 2022-23 but will remain well above their historic averages, according to the U.S. Department of Agriculture. It is forecasting a season-average farm price of $6.80 per bushel for wheat, down 50 cents per bu. from 2021-22 levels. That is due to an 83 million bu. […] Read more
Rising prices could lead farmers to grow more mustard
Countries that buy Canadian mustard are now looking elsewhere, such as the United States, to increase their own supply
Ongoing supply issues are driving up mustard seed prices. Yellow mustard in Western Canada has a high-delivered bid of $1.61 per pound, 10 cents higher than last month and $1.18 higher than last year, according to Prairie Ag Hotwire data. Over the past month, the high-delivered bid for brown mustard went up 34 cents to […] Read more
